Accountants for Johnson, Inc., have assembled the following data for the year ended December 31, 2012:

Requirement
1. Prepare Johnson€™s statement of cash flows using the indirect method. Include an accompanying schedule of noncash investing and financingactivities.

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Dccember 31, 2012 2011 Current Accounts: Current assets: $ 17,000 $ 92,100 Cash and cash cquivalents Accounts receivable 64,500 69,200 87,000 Inventories 80,000 Current liabilities: Accounts payable . Income tax payable 57,900 56,200 17,100 14,400 Transaction Data for 2012: Payment of note payable Payment of cash dividends Issuance of note payable to borrow cash Gain on sale of building Issuance of common stock $48,100 for cash ... Depreciation expense Purchase of cquipment Acquisition of land by issuing long-term note payable Cost basis of building sold $ 40,000 54,000 ..... 25,000 75,000 67,000 5,500 122,000 Net income. 53,000 70,500 ....